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Travel Money

travel money tips

It’s not news that we all love to get the most for our money, especially on holiday. Although sometimes we forget that this doesn’t just involve getting a cheap taxi ride and two-for-one on ice creams. Getting the most value from your holiday doesn't stop with finding a great deal either - if you're savvy with your spending money then you can make your pounds go even further. As the beach experts, we thought we’d take a look into what UK holidaymakers are paying for their foreign currency, by researching the different ways we pay for things when on holiday, and how we exchange money before we go. This might not have been something you’ve ever considered, but it really does make a difference if you’re getting more money for, well…your money!

Not only have we been working our socks off here at On the Beach, but we’ve also asked for a little help from personal finance and consumer expert, Sue Hayward. Sue regularly appears on TV and radio, including Sky News, BBC Breakfast and BBC Radio 2, and is the author of two books - one of which is titled 'How To Get The Best Deal'. So, it's fair to say that she was our best bet for some top tips on travel money! Sue has helped us get an insight on the kind of tips and tricks that can really save you from splashing the cash where it isn’t needed. So, without further ado, it’s time to talk numbers and find out how to get more for your money under the sun.

Did you know?

Getting a great deal on exchange rates might be one for your holiday checklist, but there are so many options out there, how do you even decide? We did some digging into what exchange rate the popular online and airport currency providers were offering for GBP to Euro, based on taking out €700 (€100 a day for a week). Take a look below to see the results*:

*Results collected on 4th March 2019

You could be missing out on a whopping £174!

We also found that 1 in 10 Brits exchange their cash at the airport, even though airport exchange rates can be 28% lower than online. So, let’s say you’ve budgeted €100 per-day for a week long holiday, exchanging your €700 at the airport could mean you’re paying an extra £174! To put this into perspective, check out what you could be spending that £174 on below:

What to spend £174 on

** The above information is based on average prices found online and is only a loose estimation.**

Tips from a professional – Sue Hayward

We teamed up with Sue to get some expert knowledge on the subject and to really discover how to change our spending habits to get the most for our money. With this, Sue gave us her top 10 tips for getting the most of your holiday money:

Top 10 tips

Over to us

Need more convincing? Well, we also discovered that some 6% of us Brits don’t use cash on our holidays and 17% to 18% of people use their credit or debit card whilst abroad, despite the transaction charges. So, if you’re spending £50 per day on a 2.99% credit card, you’re going to be charged more than £10 at the end of your holiday! We’ve compared these credit and debit card charges so you can see for yourself below:

Travellers cheques may be a thing of the past (c’mon, they were invented in 1772), but we now have the pre-paid travel card. Different to a bank card, these nifty pieces of plastic allow you to top them up with the cash you need and give you a good exchange rate too! Plus, you won’t be left at the end of your holiday with a pocketful of change that’ll be forgotten about for forever more. After your trip you can keep the cash on there as a pleasant surprise for your next holiday, or some even let you draw the money back out as sterling. The most important thing is to do plenty of research beforehand, so you can make sure you’re getting the best deal available.

If you are left with a little bit of spare currency at the end of your break, check out our blog - What to do with your leftover currency. Or, for more ideas on how to get the most from your money and truly enjoy a beachy break on a budget, have a read of our 5 ways to holiday on a budget

10 things to do with your leftover currency

5 ways to holiday on a budget

Brilliant budget breaks!

Now you're travel money savvy, why not bag a bargain break to have an all-round fantastic budget holiday? Take a look at some of our best low-cost getaways below.

Roc Costa Park

Torremolinos, Costa del Sol

  • Swimming pool
  • Seasonal kids' splash zone
  • Tennis court
Sol Pelicanos Ocas

Benidorm, Spain

  • As seen on TV
  • 300m from the beach
  • Kids club
Laguna Park II

Costa Adeje, Tenerife

  • Large swimming pool
  • Buffet restaurant
  • Great atmosphere
Club B by BH Mallorca - Adults Only

Magaluf, Majorca

  • Adults only
  • Central location
  • Great for groups
Blue Sea Costa Teguise Gardens

Costa Teguise, Lanzarote

  • Kids pool
  • Poolside bar
  • Family-friendly
Club Mac Alcudia

Alcudia, Majorca

  • Large aquapark
  • 7 swimming pools
  • Kids club

Go All Inclusive

If you don't want to worry about spending money at all whilst you're out there, go All Inclusive! Going all in can give you the best value for money if you're looking to indulge in all parts of your sun-soaked getaway. Check out these hotels that offer an All Inclusive concept...